Appraisal Buzz

FEBRUARY 28, 2022

A lot has changed over the last two decades, but appraisal data and more specifically, appraisal inspections have remained unchanged. This is the digital transformation of the appraiser’s inspection data. Deep Learning can be trained to identify anything in an image. And appraisers can thank self-driving cars for this change.

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Housing Wire

SEPTEMBER 5, 2024

The FHA should critically evaluate and simplify inspection criteria, review the inspection requirements for FHA appraisals, and modernize criteria wherever possible “to help reduce homebuying hurdles over non-essential, smaller home repair issues,” the authors wrote. ”

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Housing Wire

AUGUST 21, 2024

The owner of the company said to me, “Well, you know, Debbie, when it comes time to do the termite inspection, you get in the way. I do the inspection. I will arrange the inspection. I’ll go do the inspection. I’ll go do the inspection. You call the client, then you call me to arrange it.

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Appraisal Buzz

OCTOBER 18, 2021

My solution was to hire and train a few folks that could help me develop and support my workflow and processes. Having been an instructor on residential topics for a few years, I felt that the best way to go was to hire and train individuals that wanted to become appraisers. The Problem with Trainees. But that is the reality.

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

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Housing Wire

AUGUST 31, 2023

Last year, Freddie Mac launched another solution that allows a trained property data collector to visit the home and gather images, measurements and property characteristics. Property data collection consists of a complete interior and exterior inspection of the subject property. More recently, Fannie Mae launched a similar solution.

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Housing Wire

MARCH 10, 2023

For the new value acceptance plus property data option, third parties are authorized to do that collection at the property site, as long as lenders verify that they have a background check, have been “professionally trained” and are competent to do that collection.

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Housing Wire

AUGUST 22, 2024

For many Realtors, the biggest challenge so far has been convincing strangers to meet in a strange place to discuss strange topics—buying a home, getting a mortgage , negotiating inspections, etc. Early experiences show that many unmet buyers prefer touring homes without the added pressure of a salesperson.

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Appraisal Buzz

JULY 8, 2024

We all have seen the buzz phrases: appraisal modernization, bifurcation, data collectors, desktop and hybrid appraisals, and observation (rather than Inspection). There are also the economics of training new appraisers and the numerous and disparate state laws and lender prohibitions. What am I talking about?

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Appraisal Buzz

JULY 25, 2022

Josh: Multiple developers have created inspection apps which scan properties and generate floor plans and 3D representations of the improvements. Josh: If the data collector is not an appraiser, how do we know they know what to identify and report during a property inspection?

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Housing Wire

MARCH 23, 2021

Over the years the real estate appraisal workforce has experienced a shortage and has fallen behind to attract new entrants to replace those retiring due to high barriers of entry such as training, cost, and licensure regulations. AA: The past year saw a rapid evolution in appraisal management technology.

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Housing Wire

JANUARY 21, 2025

I have trained myself to keep a pen in my hand and stare at the page as if I am waiting to write down their answer. Later, during the inspection period, the buyer hits the seller harder with a long list of repairs. Sometimes, a few minutes feels like an eternity, but it is almost always worth the wait.

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Housing Wire

SEPTEMBER 13, 2023

It makes accessible information that used to be hard to obtain, such as the condition of the backyard, the proximity of a property to a loud road, train tracks, or a body of water as well as the occupancy status of a property. The solution renders an array of nationwide property information available in one PDF report.

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Housing Wire

JULY 11, 2024

Opteon’s data collection process involves comprehensive inspections of the subject property, both inside and out. Additionally, Opteon engages trained third-party data collectors, comprised of appraisers, agents, and home inspectors, who adhere to stringent requirements, ensuring the accuracy and reliability of the collected data.

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Housing Wire

AUGUST 11, 2023

With a PDR, property information is physically collected on-site by a trained property data collector, who prepares the PDR identifying property characteristics and capturing photographs. The PDR can be completed by a trained property data collector, as long as lenders meet the requirements outlined in Freddie Mac’s Guide.

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Housing Wire

SEPTEMBER 13, 2022

Even recently, with technologies like virtual tours or dollhouse-style immersive walkthroughs that provide floor plans, those services can be expensive and require special training and equipment and take a long time to collect data, Allen explains. And in pursuit of making floor plans standard in U.S.

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Housing Wire

NOVEMBER 4, 2020

In addition, servicers need to maintain relationships with a number of outsourcers who are not being paid during the moratorium, including foreclosure attorneys, eviction attorneys, inspection providers, real estate companies, appraisers, property preservation vendors and REO suppliers.

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Housing Wire

DECEMBER 14, 2022

In October, the company added more than 275 subcontractors that complete inspections, preservation and yard/snow services to its network. In terms of 2022 as a whole, Safeguard has added more than 4200 people working at the numerous preservation, lawn service, inspection and various trades that are part of the company’s network.

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Appraisal Buzz

JULY 26, 2021

While there are some supervisors that do not want to train their competition, the main concern is will it be economically feasible to bring on a trainee. In the past, financial institutions were a viable training ground. This is problematic for all new entries into the profession, though it can be particularly hard for minorities.

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Appraisal Buzz

JUNE 13, 2022

However, the 70H/1004H is also gaining traction as the GSEs have made it acceptable for trained data collectors to physically inspect a property to save the appraiser time and additional expenses. Buzz: How is new technology shaping the industry?

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Housing Wire

DECEMBER 6, 2024

How about that pest control service you used for your clients termite inspection? Inman.com Timely real estate news, agent advice and training, tech trends and reviews, market trends, and more. Show how much youre in the know by being the one sharing local community events and information. Is a new restaurant coming to town?

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Housing Wire

MAY 23, 2023

To break into appraising, you need to essentially apprentice with an existing appraiser, and for them to spend that much time training you often requires them to already have a close relationship with you. The need to physically inspect each property will be replaced with data or other inspection options in many cases.

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Housing Wire

OCTOBER 29, 2021

EXOS Inspect is a mobile app that allows borrowers to conduct their own home inspections when a traditional appraisal is not required, such as in home equity lending. EXOS Inspect enhances home equity lenders’ risk management strategies by ensuring they have the most up-to-date information on the house.

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Appraisal Buzz

AUGUST 12, 2024

There will be many more data elements related to the inspection. Using a mobile device for inspections will be a must in the future. Robust support and training are quintessential for a smooth transition to the new UAD standards. Appraisers can prepare for this change by using those tools right now.

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Working RE

MARCH 2, 2021

> E&O/GL Insurance for Home Inspectors Competitive Rates, Broad Coverage, Free Risk Management, online inspection support for tough questions, discounts on education and more. The post Training Certifications and Value-Add of Infrared first appeared at Working RE Magazine.

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Cleveland Appraisal Blog

AUGUST 6, 2021

WAIVING HOME INSPECTIONS. He said this year has been extremely slow for him because people are waiving home inspections to get a competitive edge on other buyers, bidding on the same home. Getting a home inspection is a personal decision. They are trained to catch things that most people might miss. Is this wise?

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Appraisal Buzz

OCTOBER 14, 2024

Today, new technology can assist appraisers, AMCs and lenders with visual inspection, analysis, and intelligence to validate information, detect issues, and derive data-backed insights on every loan. Meanwhile, incomplete or inaccurate information can lead to faulty lending decisions that put lenders and their AMCs at risk.

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CP Home Appraisals

AUGUST 27, 2018

Isn’t a home inspection similar to a home appraisal? Not at all – an appraisal differs from a house inspection. Although the home appraiser will complete a rudimentary inspection of the subject property, it will be nowhere near as thorough as what a property inspector does. Do I need a home inspection as well?

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GoForrmz

NOVEMBER 21, 2024

The Problem with Traditional Data Collection Construction projects rely heavily on data, from safety inspections and daily logs to permits and inventory tracking. Monitoring Job Site Progress Daily logs, safety checklists, and equipment inspections can be digitized and updated in real-time.

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GoForrmz

JANUARY 16, 2025

Drone Technology for Site Surveys and Inspections Drone technology has rapidly evolved from a novelty to a core tool in modern construction. From safety inspections to OSHA Toolbox Talks, and even job site analysis forms, GoFormz can help you streamline processes and prioritize safety on your work sites.

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Appraiserblogs

AUGUST 2, 2021

Register today if you want to take this training: August 12, 2021 | 10:00 AM – 12:00 PM (Mountain) This training covers FHA appraisal requirements, including FHA appraisal protocol and policy as outlined in FHA’s Single Family Housing Policy Handbook 4000.1,

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Appraiserblogs

APRIL 19, 2023

The act specifically states that only a casual or drive-by inspection can be performed when it comes to consumer loans secured by real estate, and no opinion can be rendered as to its value nor any fee charged for such an inspection. ARTICLE 38. THE REAL ESTATE APPRAISER.

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Housing Wire

MAY 25, 2021

A 2017 study conducted by the National Association of Realtors found that “lack of training, downward trends in compensation, and increasing regulation,” were driving both existing and would-be appraisers away from the industry. In these scenarios, no inspection or appraisal of any kind is performed on the property.

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GoForrmz

JANUARY 24, 2022

Conditional Logic use case example Imagine you are a job site supervisor tasked with ensuring critical inspections and safety documentation is completed daily. With GoFormz, HL Training Services digitized their training documents and utilized logic to populate form fields with relevant information, based on selected fields and input data.

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GoForrmz

SEPTEMBER 14, 2023

Sanitation and Cleaning Schedules Setting digital schedules with automated reminders, and using digital forms and checklists for cleaning and inspections means a faster, reliable way to ensure your cleaning standards are met.

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Boston Appraisal

OCTOBER 8, 2022

Hybrid appraisals and full appraisals differ in one key aspect, property inspection. In the course of a full appraisal, the appraiser will schedule and inspect the property themselves. For hybrid appraisals, the property inspection is completed by a third party, and that information is relayed to the appraiser.

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Appraisal Buzz

APRIL 18, 2022

I’ve been in a basement which was a wall-to-wall train set, and I’ve been in a 3-bedroom home where two of the bedrooms were filled with display cases full of Disney memorabilia. The trust officer and I went to the corner door (still looked like a bar) and were met by the tallest man I’ve ever seen on an appraisal inspection.

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